Oppenheimer & Co. Inc. Has $23.27 Million Stock Position in Citigroup Inc. (NYSE:C)

Oppenheimer & Co. Inc. raised its holdings in Citigroup Inc. (NYSE:C) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 330,574 shares of the company’s stock after buying an additional 3,760 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Citigroup were worth $23,269,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares during the period. Franklin Resources Inc. grew its holdings in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after buying an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after buying an additional 240,628 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on C shares. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

C opened at $79.00 on Thursday. The stock’s 50 day simple moving average is $77.30 and its 200 day simple moving average is $69.01. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a market cap of $149.41 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. As a group, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.84%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.